FOB (Free On Board)
Free On Board, an Incoterm for sea and inland waterway transport. The seller clears the goods for export and loads them on the vessel nominated by the buyer at the named port of shipment. Risk passes to the buyer once the goods are on board. The buyer pays ocean freight, insurance and all costs from that point onwards.
Related terms
CIF (Cost, Insurance and Freight)
Cost, Insurance and Freight, an Incoterm for sea transport. The seller pays freight to the named destination…
EXW (Ex Works)
Ex Works, the Incoterm that places the least obligation on the seller. Goods are made available at the seller…
Incoterms
A set of eleven trade terms published by the International Chamber of Commerce that define the responsibiliti…
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